Cineplex (CGX) has reported that both box office revenue and attendance at its theatres across Canada surpassed pre-pandemic levels in August due to the popularity of movies such as ‘Barbie’ and ‘Oppenheimer.’
The Toronto-based movie theatre chain said that it earned $68 million in ticket sales during August of this year, up 120% from the same month in 2019 before the Covid-19 pandemic struck, forcing it to close its theatres or operate them at reduced capacity.
Cineplex also reported that this August was its third highest box office gross ever for the summer month.
The company said that 6.1 million people attended a movie at one of its Canadian theatres in August, up 107% compared to August 2019 attendance levels.
‘Barbie’ and ‘Oppenheimer’ combined represented more than half (52%) of the company’s total ticket sales during August.
Cineplex said that it expects attendance at its movie theatres to remain strong this autumn, noting that it has already earned $4.7 million in ticket pre-sales for the upcoming “Taylor Swift Eras Tour” concert movie.
The stock of Cineplex has declined 16% over the last 12 months and currently trades at $7.99 per share.
